As a trivia junkie growing up, one of my favorite question was who the second man on the moon was? Not many people knew the answer. The moral was “No one remembers who come second”. This feeling was also amplified by Nike in its famous ad which went on to say “You Don’t Win Silver — You Lose Gold”. Continue reading
Brand extension is a marketing strategy in which a firm marketing a product with a well-developed image uses the same brand name in a different product category.Organizations use this strategy to increase and leverage brand equity.
Brand extension offers a powerful tool to brand managers to mitigate initial risk while entering a new product category. The reason for doing this is simple. It takes a lot of time and money to develop a brand from scratch and it is far more easier to use the same brand name in a different product category . But Continue reading